1,900 banking jobs cut

Story link: 1,900 banking jobs cut

The economic crisis means savings need to be put into affect straight away, the first choice of course being employment levels, this time with a massive 1,900 banking jobs to be affected, both full time and part time staff, this is likely to add huge amounts of pressure to the banking sector aswell as decreasing employment levels.

1,900 banking jobs cut

Merrill Lynch and Bank of America, its new owner, are preparing to cut about 1,900 staff in London — one of the biggest single staff reductions in the history of the City.
Staff at Merrill have been told that management is looking to cut 30 per cent of the combined workforce in the capital. Some were asked to reapply for their jobs last week.